King Charles III's coronation is expected to be held on June 3, 2023. Getty
King Charles III's coronation is expected to be held on June 3, 2023. Getty
King Charles III's coronation is expected to be held on June 3, 2023. Getty
King Charles III's coronation is expected to be held on June 3, 2023. Getty

King Charles III's coronation backed to be a bank holiday


Laura O'Callaghan
  • English
  • Arabic

King Charles III’s coronation is tipped to take place on June 3, 2023, with Business Secretary Jacob Rees-Mogg giving his backing for the occasion to be a bank holiday.

Mr Rees-Mogg has publicly offered his backing for an additional bank holiday to be added to the UK calendar, and insisted it will not hamper the economy in any big way.

“The coronation is an important symbolic act with constitutional resonance about the stability of our system,” he was quoted in The Telegraph as saying.

“To have a day off for that is perfectly reasonable, and the effect on growth will not be enormous.”

The UK had a four-day bank holiday weekend in June to celebrate the queen’s platinum jubilee and another public holiday in September for her funeral.

Some figures in Liz Truss’s new administration are said to be wary of how an extra bank holiday next year could suppress economic growth.

The coronation ceremony, set to be the first witnessed by many generations of Britons, will form the centrepiece of days of celebration to mark the beginning of the monarch’s reign.

The queen’s eldest son became king the moment his mother died but the coronation will be a public display of his accession to the throne. He will also take a series of vows as each monarch in the past had to.

UK officials said the date had been set for the ceremony, due to be held at Westminster Abbey.

Sources said planners are working towards that Saturday at the beginning of the summer, although discussions over which day — the Friday or the Sunday — will be a bank holiday are continuing.

Buckingham Palace declined to comment.

  • A photo released by Buckingham Palace as they announced that King Charles III had been diagnosed with cancer. All Photos: Getty Images unless stated
    A photo released by Buckingham Palace as they announced that King Charles III had been diagnosed with cancer. All Photos: Getty Images unless stated
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    King Charles attends the Sunday service at the Church of St Mary Magdalene on the Sandringham estate in January
  • King Charles and Queen Camilla leaving The London Clinic in January. The King had been receiving treatment for an enlarged prostate.
    King Charles and Queen Camilla leaving The London Clinic in January. The King had been receiving treatment for an enlarged prostate.
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    King Charles delivers his Christmas message at Buckingham Palace in December 2023
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    King Charles delivers an address at the opening ceremony of the Cop28 Summit in December 2023 in Dubai
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    King Charles and Prince William attend the National Service of Remembrance at The Cenotaph in November 2023 in London
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    King Charles and Queen Camilla at the State Opening of Parliament in November 2023
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    King Charles waters and plants a tree watched by President of Kenya, William Ruto in October 2023 in Nairobi
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    King Charles and US President Joe Biden review a guard of honour at Windsor Castle in July 2023
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    Catherine, Princess of Wales, Prince William, King Charles and Queen Camilla during the National Service of Thanksgiving and Dedication at St Giles' Cathedral in Edinburgh, in July 2023
  • King Charles and Queen Camilla on the balcony of Buckingham Palace, after his coronation. PA
    King Charles and Queen Camilla on the balcony of Buckingham Palace, after his coronation. PA
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    King Charles, carrying the Sovereign's Orb and Sceptre, leaves Westminster Abbey after the Coronation in May 2023. AFP
  • King Charles III is crowned with St Edward's Crown by The Archbishop of Canterbury Justin Welby during his coronation ceremony in Westminster Abbey in May 2023. PA
    King Charles III is crowned with St Edward's Crown by The Archbishop of Canterbury Justin Welby during his coronation ceremony in Westminster Abbey in May 2023. PA
  • King Charles and Queen Consort Camilla, centre, with German President Frank-Walter Steinmeier and his wife Elke Buedenbender during the king's state visit in March 2023
    King Charles and Queen Consort Camilla, centre, with German President Frank-Walter Steinmeier and his wife Elke Buedenbender during the king's state visit in March 2023
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    King Charles and Camilla during a visit to the Bangladeshi community of Brick Lane, London, in February 2023
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    King Charles welcomes Rishi Sunak during an audience at Buckingham Palace, where he invited the leader of the Conservative Party to form a new government in October 2022
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    King Charles during the recording of his first Christmas broadcast at Windsor Castle in December 2022
  • King Charles follows the coffin of Queen Elizabeth as it is carried from Westminster Abbey after her state funeral. AP
    King Charles follows the coffin of Queen Elizabeth as it is carried from Westminster Abbey after her state funeral. AP
  • King Charles holds a vigil beside the coffin of his mother, Queen Elizabeth, as it lies in state on the catafalque in Westminster Hall. PA
    King Charles holds a vigil beside the coffin of his mother, Queen Elizabeth, as it lies in state on the catafalque in Westminster Hall. PA
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    King Charles greets members of the public as he walks by the gates of Buckingham Palace after the death of Queen Elizabeth. AP
  • King Charles shakes hands with British Prime Minister Liz Truss during their first audience at Buckingham Palace
    King Charles shakes hands with British Prime Minister Liz Truss during their first audience at Buckingham Palace
  • King Charles III delivers his address to the nation and the Commonwealth from Buckingham Palace after the death of Queen Elizabeth II in September 2022
    King Charles III delivers his address to the nation and the Commonwealth from Buckingham Palace after the death of Queen Elizabeth II in September 2022
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    Prince Charles with Camilla and Prince William during the ceremonial state opening of parliament at the Palace of Westminster in 2022
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    Prince Charles and Camilla on a visit to Giza in Egypt in 2021
  • Prince Charles joined members of the British Asian Trust for a short bicycle ride as they launched the charity's Palaces on Wheels cycling event at Highgrove in 2021
    Prince Charles joined members of the British Asian Trust for a short bicycle ride as they launched the charity's Palaces on Wheels cycling event at Highgrove in 2021
  • Prince Charles walks behind the Duke of Edinburgh’s coffin during the funeral of Prince Philip in 2021
    Prince Charles walks behind the Duke of Edinburgh’s coffin during the funeral of Prince Philip in 2021
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    Queen Elizabeth and Prince Charles during the state opening of parliament at the Palace of Westminster, London, in 2019
  • Prince Charles, Prince William, Catherine, Duchess of Cambridge, Meghan, Duchess of Sussex and Prince Harry arrive for a Christmas Day church service on the Sandringham estate in December 2018
    Prince Charles, Prince William, Catherine, Duchess of Cambridge, Meghan, Duchess of Sussex and Prince Harry arrive for a Christmas Day church service on the Sandringham estate in December 2018
  • Prince Charles leads Meghan Markle up the aisle during her wedding to Prince Harry in St George's Chapel at Windsor Castle in 2018
    Prince Charles leads Meghan Markle up the aisle during her wedding to Prince Harry in St George's Chapel at Windsor Castle in 2018
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    Prince Charles and Camilla attend a dinner hosted by Queen Beatrix of the Netherlands, in Amsterdam in 2013
  • Prince Charles and Harry in front of an Apache helicopter at the Army Aviation Centre in Middle Wallop, 2011
    Prince Charles and Harry in front of an Apache helicopter at the Army Aviation Centre in Middle Wallop, 2011
  • Queen Elizabeth presents Prince Charles with the Royal Horticultural Society's Victoria Medal of Honour at the Chelsea Flower Show, west London, in 2009
    Queen Elizabeth presents Prince Charles with the Royal Horticultural Society's Victoria Medal of Honour at the Chelsea Flower Show, west London, in 2009
  • An official portrait to mark Prince Charles's 60th birthday in 2008
    An official portrait to mark Prince Charles's 60th birthday in 2008
  • Prince Charles and his new bride Camilla, Duchess of Cornwall, in the White Drawing Room at Windsor Castle after their wedding in April 2005
    Prince Charles and his new bride Camilla, Duchess of Cornwall, in the White Drawing Room at Windsor Castle after their wedding in April 2005
  • Charles with his sons William and Harry on a ski break at Klosters in Switzerland in 2005
    Charles with his sons William and Harry on a ski break at Klosters in Switzerland in 2005
  • Queen Elizabeth and Prince Charles in Avignon during a state visit to France in 1972
    Queen Elizabeth and Prince Charles in Avignon during a state visit to France in 1972
  • Prince Charles learns a soul dance routine at St George's Secondary School in Maida Vale, west London, in 1978
    Prince Charles learns a soul dance routine at St George's Secondary School in Maida Vale, west London, in 1978
  • Prince Philip, Prince William, Earl Spencer, Prince Harry and Prince Charles follow the coffin of Princess Diana at her funeral in London in September 1997
    Prince Philip, Prince William, Earl Spencer, Prince Harry and Prince Charles follow the coffin of Princess Diana at her funeral in London in September 1997
  • Diana and Prince Charles pose with their sons, Princes William and Harry, on Prince William's first day at Eton College in 1995
    Diana and Prince Charles pose with their sons, Princes William and Harry, on Prince William's first day at Eton College in 1995
  • Prince Charles and Diana on a visit to Nottingham in 1985
    Prince Charles and Diana on a visit to Nottingham in 1985
  • Diana and Prince Charles with Prince Harry leave St Mary's Hospital in Paddington, west London, in 1984
    Diana and Prince Charles with Prince Harry leave St Mary's Hospital in Paddington, west London, in 1984
  • Prince Charles and his wife Diana with their baby son, Prince William, at home in Kensington Palace in 1983
    Prince Charles and his wife Diana with their baby son, Prince William, at home in Kensington Palace in 1983
  • Prince Charles and Diana with son William in 1983
    Prince Charles and Diana with son William in 1983
  • Prince Charles and Diana on the balcony of Buckingham Palace on their wedding day in 1981
    Prince Charles and Diana on the balcony of Buckingham Palace on their wedding day in 1981
  • Prince Charles at a polo event in Windsor Great Park, accompanied by the queen and Prince Edward, in 1971
    Prince Charles at a polo event in Windsor Great Park, accompanied by the queen and Prince Edward, in 1971
  • Prince Charles leaving Caernarfon Castle after his investiture as Prince of Wales, in Gwynedd, 1969
    Prince Charles leaving Caernarfon Castle after his investiture as Prince of Wales, in Gwynedd, 1969
  • Prince Charles during a tour of Wales in 1969
    Prince Charles during a tour of Wales in 1969
  • Prince Charles playing cricket in 1968. He was playing for Lord Brabourne against a team of Grand Prix racing drivers.
    Prince Charles playing cricket in 1968. He was playing for Lord Brabourne against a team of Grand Prix racing drivers.
  • Prince Charles and Princess Anne at Windsor Great Park in 1968
    Prince Charles and Princess Anne at Windsor Great Park in 1968
  • Prince Charles at the University of Cambridge in 1967, where he was beginning his term at Trinity College
    Prince Charles at the University of Cambridge in 1967, where he was beginning his term at Trinity College
  • Queen Elizabeth and her family travel to Sandringham in 1966. Prince Andrew is on her lap, the Duke of Edinburgh to her left with Princess Anne on his lap, and Prince Charles, right
    Queen Elizabeth and her family travel to Sandringham in 1966. Prince Andrew is on her lap, the Duke of Edinburgh to her left with Princess Anne on his lap, and Prince Charles, right
  • Prince Charles, walking a Corgi, Princess Anne, Prince Andrew and their nanny Mabel Anderson at Euston Station, London, in 1963
    Prince Charles, walking a Corgi, Princess Anne, Prince Andrew and their nanny Mabel Anderson at Euston Station, London, in 1963
  • US President Dwight D Eisenhower, centre, with the British royal family, left to right, Prince Philip, Princess Anne, Queen Elizabeth and Prince Charles, at Balmoral Castle in 1959
    US President Dwight D Eisenhower, centre, with the British royal family, left to right, Prince Philip, Princess Anne, Queen Elizabeth and Prince Charles, at Balmoral Castle in 1959
  • Queen Elizabeth watches her son Prince Charles driving a toy car in the grounds of Balmoral Castle in 1952
    Queen Elizabeth watches her son Prince Charles driving a toy car in the grounds of Balmoral Castle in 1952
  • A young Prince Charles is perched on the lap of his father the Duke of Edinburgh, while his mother Queen Elizabeth II looks on in the grounds of Windlesham Moor in 1949
    A young Prince Charles is perched on the lap of his father the Duke of Edinburgh, while his mother Queen Elizabeth II looks on in the grounds of Windlesham Moor in 1949

Since the late queen died in early September, there has been speculation that an extra bank holiday would be declared for the king’s coronation.

Some reports suggested the king would push for June 2 as his coronation date in a tribute to his mother, as this was the date she was crowned in 1953.

By June next year, the king will be 74, making him the oldest person to be crowned in British history.

He is said to be keen for a smaller, more low-key version of earlier ceremonies.

Representatives of different faiths are expected to be invited, as the king has indicated he will be the defender of all faiths, not only one.

He will be crowned alongside his wife, Queen Consort Camilla.

When Elizabeth II was crowned in 1953 more than 8,000 guests from 129 nations travelled to Westminster Abbey, with temporary platforms erected to seat the guests, including every member of the British aristocracy.

Safety restrictions mean that nowadays the church can only hold about 2,000, providing a headache for planners.

UAE currency: the story behind the money in your pockets
How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Engine: 4-litre twin-turbo V8

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First-round leaderbaord

-5 C Conners (Can)

-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);

-2 C Morikawa (US), M Laird (Sco), C Tringale (US)

Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)

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1 L Westwood (Eng), J Spieth (US)

3 R McIlroy (NI)

4 D Johnson (US)

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
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Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

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Favourite piece of music: Horse Dance by Naseer Shamma

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  • Jack Mayle, 30: sold drugs from a phone line called the Flavour Quest.
  • Callum Halpin, 27: over the 2018 murder of a rival drug dealer. 
  • Asim Naveed, 29: accused of being the leader of a gang that imported cocaine.
  • Calvin Parris, 32: accused of buying cocaine from Naveed and selling it on.
  • John James Jones, 31: allegedly stabbed two people causing serious injuries.
  • Callum Michael Allan, 23: alleged drug dealing and assaulting an emergency worker.
  • Dean Garforth, 29: part of a crime gang that sold drugs and guns.
  • Joshua Dillon Hendry, 30: accused of trafficking heroin and crack cocain. 
  • Mark Francis Roberts, 28: grievous bodily harm after a bungled attempt to steal a £60,000 watch.
  • James ‘Jamie’ Stevenson, 56: for arson and over the seizure of a tonne of cocaine.
  • Nana Oppong, 41: shot a man eight times in a suspected gangland reprisal attack. 
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Name: Mamo 

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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
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Manchester City 3 (Silva 8' &15, Foden 33')

Birmginahm City 0

Man of the match Bernado Silva (Manchester City)

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Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Updated: October 07, 2022, 9:59 AM